Common use of Conditions Precedent to Borrowings Clause in Contracts

Conditions Precedent to Borrowings. The agreement of each Lender to make Extensions of Credit requested to be made by it is subject solely to the satisfaction, in each case on or before the Certain Funds Termination Date, of the applicable conditions precedent set forth in this Section 4.02: (a) The Effective Date shall have occurred. (b) With respect to the initial Extension of Credit hereunder, Administrative Agent shall have received a Target Acquisition Certificate. (c) Administrative Agent shall have received evidence that all fees required to be paid on or prior to the date of such Extension of Credit pursuant to the Fee Letter have been or shall be paid on or prior to such date (or other arrangements satisfactory to Administrative Agent and the Arrangers shall have been made with respect to the payment of such fees). (d) No Major Event of Default shall have occurred and be continuing or would result from the proposed Extension of Credit to be made on such date. (e) It shall not be illegal for any Lender to lend and there is no injunction, restraining order or equivalent prohibiting any Lender from funding its portion of such Loans; provided, that such Lender has used commercially reasonable efforts to fund its such Loans through an Affiliate of such Lender not subject to such legal restriction; provided, further, that the occurrence of such event in relation to one Lender shall not relieve any other Lender of its obligations hereunder.

Appears in 2 contracts

Samples: 364 Day Bridge Credit Agreement (NBCUniversal Media, LLC), Term Loan Credit Agreement (NBCUniversal Media, LLC)

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Conditions Precedent to Borrowings. The agreement of each Lender to make Extensions of Credit requested to be made by it is subject solely to the satisfaction, in each case on or before the Certain Funds Termination Date, of the applicable conditions precedent set forth in this Section 4.02: (a) The Effective Date shall have occurred. (b) With respect to the initial Extension of Credit hereunder, Administrative Agent shall have received a Target Acquisition Certificate. (c) Administrative Agent shall have received evidence that all fees required to be paid on or prior to the date of such Extension of Credit pursuant to the Fee Letter have been or shall be paid on or prior to such date (or other arrangements satisfactory to Administrative Agent and the Arrangers shall have been made with respect to the payment of such fees). (d) No Major Event of Default shall have occurred and be continuing or would result from the proposed Extension of Credit to be made on such date. (e) It shall not be illegal for any Lender to lend and there is no injunction, restraining order or equivalent prohibiting any Lender from funding its portion of such Loans; Loans; provided, that such Lender has used commercially reasonable efforts to fund its such Loans through an Affiliate of such Lender not subject to such legal restriction; restriction; provided, further, that the occurrence of such event in relation to one Lender shall not relieve any other Lender of its obligations hereunder.

Appears in 2 contracts

Samples: 364 Day Bridge Credit Agreement, Term Loan Credit Agreement

Conditions Precedent to Borrowings. The agreement of each Lender to make Extensions of Credit requested to be made by it is subject solely to the satisfaction, in each case on or before the Certain Funds Termination Date, of the applicable conditions precedent set forth in this Section 4.02: (a) The Effective Date shall have occurred. (b) With respect to the initial Extension of Credit hereunder, Administrative Agent shall have received a Target Acquisition Certificate. (c) Administrative Agent shall have received evidence that all fees required to be paid on or prior to the date of such Extension of Credit pursuant to the Fee Letter Letters have been or shall be paid on or prior to such date (or other arrangements satisfactory to Administrative Agent and the Arrangers shall have been made with respect to the payment of such fees). (d) No Major Event of Default shall have occurred and be continuing or would result from the proposed Extension of Credit to be made on such date. (e) It shall not be illegal for any Lender to lend and there is no injunction, restraining order or equivalent prohibiting any Lender from funding its portion of such Term Loans; provided, that such Lender has used commercially reasonable efforts to fund its such Term Loans through an Affiliate of such Lender not subject to such legal restriction; provided, further, that the occurrence of such event in relation to one Lender shall not relieve any other Lender of its obligations hereunder.

Appears in 1 contract

Samples: Term Loan Credit Agreement (NBCUniversal Media, LLC)

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Conditions Precedent to Borrowings. The agreement of each Lender to make Extensions of Credit requested to be made by it is subject solely to the satisfaction, in each case on or before the Certain Funds Termination Date, of the applicable conditions precedent set forth in this Section 4.02: (a) The Effective Date shall have occurred. (b) With respect to the initial Extension of Credit hereunder, Administrative Agent shall have received a Target Acquisition Certificate. (c) Administrative Agent shall have received evidence that all fees required to be paid on or prior to the date of such Extension of Credit pursuant to the Fee Letter Letters have been or shall be paid on or prior to such date (or other arrangements satisfactory to Administrative Agent and the Arrangers shall have been made with respect to the payment of such fees). (d) No Major Event of Default shall have occurred and be continuing or would result from the proposed Extension of Credit to be made on such date. (e) It shall not be illegal for any Lender to lend and there is no injunction, restraining order or equivalent prohibiting any Lender from funding its portion of such Loans; Term Loans; provided, that such Lender has used commercially reasonable efforts to fund its such Term Loans through an Affiliate of such Lender not subject to such legal restriction; restriction; provided, further, that the occurrence of such event in relation to one Lender shall not relieve any other Lender of its obligations hereunder.

Appears in 1 contract

Samples: Term Loan Credit Agreement

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